FUNDS TAKE 9.6% STAKE IN HLCL

Article Abstract:

Foreign institutional investors (FIIs) and domestic institutions and funds have acquired a 9.6 percent stake in Hind Lever Chemicals Ltd (HLCL) after a private placement of 2,225,600 equity shares worth Rs102.38 crore by the company. The private placement was done at Rs460 per share and will result in Hindustan Lever Ltd's stake in HLCL coming down to 50 percent. FIIs have acquired about 59 percent of the offer while domestic institutions and mutual funds have taken 41 percent. (khr)

KERALA CHEMICALS & PROTEIN

Article Abstract:

Kerala Chemicals & Proteins Ltd is offering shares on a rights basis at Rs75 per share in the ratio of one equity share for every share held. This is to part-finance its Rs77.93 crore gelatine project which is scheduled to start production in October 1998. The company has already invested Rs48.38 crore on the project. Its paid-up capital will increase to Rs8.40 crore from Rs4.20 crore at present after the proposed issue. (khr)

Comment:

Offers shares on rights basis at Rs75 per share in the ratio of one equity share for every share held